I am unable to find correct approach to get list data backup. if anything happened with list. if we have backup, so we can use that data.
This is one kind of limitation in Office 365 or MSFT still behind on this. There are couple of options.
- save as template include the content( as mentioned above), but this has its own limitation i.e losing metadata, if list size is more than 50 MB then it cause trouble.
- 2nd & most reliable options as of now is use the 3rd party tools for backup and restore.
- Lastly you can contact MSFT support but they will restore the whole site collection not the list. they retains upto 14 days.
- You can also use the Recycbin to recover the deleted items or enabling the versioning.